Capital International Investors Boosts Stock Position in Toast, Inc. (NYSE:TOST)

Capital International Investors increased its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,961,233 shares of the company's stock after buying an additional 785,641 shares during the quarter. Capital International Investors owned 8.91% of Toast worth $1,529,657,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Toast by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock valued at $107,108,000 after buying an additional 155,446 shares during the period. Jupiter Asset Management Ltd. raised its stake in shares of Toast by 134.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company's stock valued at $14,319,000 after acquiring an additional 225,215 shares during the last quarter. New York Life Investment Management LLC acquired a new position in shares of Toast during the fourth quarter worth $1,572,000. Forsta AP Fonden grew its stake in shares of Toast by 191.4% in the fourth quarter. Forsta AP Fonden now owns 234,300 shares of the company's stock worth $8,540,000 after purchasing an additional 153,900 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Toast by 129,058.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company's stock worth $75,466,000 after purchasing an additional 2,072,680 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Toast

In related news, Director Christopher P. Comparato sold 70,000 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $34.21, for a total value of $2,394,700.00. Following the transaction, the director now owns 179,316 shares in the company, valued at approximately $6,134,400.36. This represents a 28.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Fredette sold 44,056 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $35.15, for a total value of $1,548,568.40. Following the completion of the sale, the president now directly owns 1,447,717 shares of the company's stock, valued at $50,887,252.55. This represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 340,770 shares of company stock worth $11,803,911 in the last ninety days. Company insiders own 13.32% of the company's stock.

Toast Stock Up 3.7 %

Toast stock traded up $1.26 during midday trading on Wednesday, hitting $35.44. 2,728,144 shares of the stock were exchanged, compared to its average volume of 6,800,741. The stock has a market capitalization of $17.51 billion, a price-to-earnings ratio of -3,540.46, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The business's 50-day moving average price is $35.18 and its 200-day moving average price is $36.22.

Toast (NYSE:TOST - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. On average, sell-side analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TOST has been the topic of a number of recent analyst reports. BNP Paribas set a $37.00 price objective on Toast and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Wolfe Research raised shares of Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective on the stock in a research note on Wednesday. Oppenheimer started coverage on shares of Toast in a research note on Friday, January 24th. They set an "outperform" rating and a $46.00 target price for the company. Wells Fargo & Company raised shares of Toast from an "underweight" rating to an "overweight" rating and upped their price target for the company from $30.00 to $39.00 in a research report on Thursday, April 10th. Finally, Canaccord Genuity Group lifted their price objective on Toast from $43.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $40.26.

Toast Profile

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.